{"id":123678,"date":"2021-05-04T13:06:56","date_gmt":"2021-05-04T13:06:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123678"},"modified":"2021-05-04T13:06:56","modified_gmt":"2021-05-04T13:06:56","slug":"hertz-confirms-new-offer-from-knighthead-certares-for-bankruptcy-exit","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/hertz-confirms-new-offer-from-knighthead-certares-for-bankruptcy-exit\/","title":{"rendered":"Hertz confirms new offer from Knighthead, Certares for bankruptcy exit"},"content":{"rendered":"<figcaption>FILE PHOTO: A logo of car rental company Hertz is seen on a building during the coronavirus disease (COVID-19) outbreak in Nice, France, May 27, 2020.  REUTERS\/Eric Gaillard<\/figcaption><p>(Reuters) &#8211; Hertz Global Holdings Inc said on Tuesday it had received a revised offer from Knighthead Capital Management, Certares Management and Apollo Global Management to fund the car rental company\u2019s exit from Chapter 11 bankruptcy.<\/p>\n<p>The revised offer aims to fund Hertz\u2019s bankruptcy exit through direct common stock investments of $2.9 billion, direct preferred stock investments of $1.5 billion and a rights offering to raise $1.36 billion.<\/p>\n<p>A media report on Monday said Knighthead Capital Management and Certares Management\u2019s latest offer gives Hertz an enterprise value of more than $6.2 billion.<\/p>\n<p>In March, Hertz said Knighthead and Certares had agreed to buy a majority stake in the company for $4.2 billion.<\/p>\n<p>The new offer also rivals a bid backed by private investment firms Centerbridge Partners, Warburg Pincus and Dundon Capital Partners, to provide equity capital to fund for Hertz\u2019s exit from bankruptcy.<\/p>\n<p>Hertz said it would evaluate the new offer and has not made a decision. The company\u2019s shares fell 7% to $2.98 in premarket trading.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-hertz-glo-hldg-chapter-11\/hertz-confirms-new-offer-from-knighthead-certares-for-bankruptcy-exit-idUSKBN2CL15K\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: A logo of car rental<\/p>\n","protected":false},"author":3,"featured_media":123677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hertz confirms new offer from Knighthead, Certares for bankruptcy exit - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/hertz-confirms-new-offer-from-knighthead-certares-for-bankruptcy-exit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hertz confirms new offer from Knighthead, Certares for bankruptcy exit - 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